LAW 3102 Study Guide - Midterm Guide: American Law Institute, No Authority, Estoppel
Document Summary
Main source of agency law: restatement of agency (third: set of principles issued by the american law institute. Cast of characters: principal, agent, third parties with whom the agent does business. Can do anything except: to do something that would be illegal for the principal to do himself, to perform a contract that calls for a specific person to perform, become some contract duties are non-delegable (jury duty) For example, the safety of the employees is the responsibility of the employer even though a third party was hired to monitor compliance with safety standards. Creation of the agency relationship: implicit or explicit consent of both parties, do not need a written contract, can be written power of attorney, can be gratuitous (no charge) Thus, t does not know who p is or that p exists. Types of agents: co-agents: a"s that have agency relationships with the same principal, ex.
